GDP shrinks at 1.0% annualized rate in Jan.-March
13:18 JST, May 18, 2022
TOKYO (Jiji Press) — Japan’s gross domestic product in January-March shrank 0.2 percent from the previous quarter in price-adjusted real terms for an annualized decline of 1.0 percent, the Cabinet Office said in a preliminary report Wednesday.
Personal consumption was nearly flat compared with the final three months of 2021, while corporate capital spending rose 0.5 percent.
In nominal terms, the country’s GDP rose 0.1 percent for an annualized increase of 0.4 percent.
In fiscal 2021, which ended last March, Japan’s GDP grew 2.1 percent from the previous year in real terms and 1.1 percent in nominal terms.
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